Private Thoughts on Bitcoin and Market Crash
If we look back at year 2017 we will see that market correction began on January 5 with first low on January 6 and a secondary low on January 12. Today we are observing almost identical market behavior but on a grander scale. Of course market cap back then was hovering around $15-$20 Billion, so it makes perfect sense why this correction is taking that much longer.
And let’s also not forget that Banks are doing everything in their power to influence Bitcoin’s growth by showing that any investor ‘stupid enough’ (as they like to say on the news) to invest in cryptocurrency will surely lose their money. They do that by influencing governments to come out with new regulations, manipulating media, which in turn brain washes us, which results in mass sells, panic and withdrawals of Bitcoin and other cryptocurrency. Banking is a multi billion dollar ‘industry’, but it remains a fact that to trasfer $10,000 from New to London it will take longer then actually flying that money to London yourself on an airplane. Welcome to 21st century banking, ha?!
With that said we personally believe that Bitcoin will be impossible to stop from continuous growth. Perhaps the speed at which market is growing can be influeced but not the actual growth. As more e-commerce companies begin accepting cryptocurrency in 2018 we will see exponential growth to well over $1.5 Trillion in market capture.
With great confidence we can say this… Bitcoin will be worth in betweet $45,000 - $67,000 by year’s end and only the strong hands will remain in the gain, everyone else will be simply filtered out.
Remember Bitcoin crash of 2017? Here’s a few articles from back then - see if you can draw up any similarities between these articles and the one’s we are reading today.
UPDATE ON MARKET CORRECTION - from the current state, we can conclude that correction is over at this time. This is not a definitive answer at this point until we begin further breaks in line of resistance but it does look good. If we continue in current state, expect recovery within next week.